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Argo Blockchain Announces Pricing Of IPO Of 7.5 Mln ADSs At $15/ADS

London-headquartered Argo Blockchain Plc, a provider of sustainable blockchain infrastructure and cryptocurrency mining products and services, on Thursday, announced the pricing of its initial public offering of 7.5 million American Depositary Shares or ADSs at a price of $15 per ADS.

Each ADS offered represents 10 ordinary shares of Argo Blockchain.

The ADSs are scheduled to begin trading on the Nasdaq Global Select Market under the ticker symbol "ARBK" on September 23, and the IPO is expected to close on September 27, the company said in a statement.

The company has raised aggregate gross proceeds of $112.5 million, before deducting underwriting discounts and commissions.

In addition, Argo Blockchain has granted the underwriters a 30-day option to purchase up to an additional 1.12 million ADSs at the public offering price, less underwriting discounts, and commissions.

Jefferies and Barclays are acting as joint book-running managers for the Offering. Canaccord Genuity and Stifel GMP are acting as co-lead managers for the Offering.

Compass Point, D.A. Davidson & Co., Ladenburg Thalmann, Roth Capital Partners, finnCap Ltd, and Tennyson Securities are acting as co-managers for the Offering.

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